|June 28, 2011|
TSYS Announces Agreement With U.S. Bank To Process Corporate Card Payments In Europe
|U.S. Bank and TSYS has announced an agreement for TSYS to provide core processing services to Elavon Financial Services Limited, a subsidiary of U.S. Bank. It will begin issuing corporate cards in Europe this summer. U.S. Bank will utilise TSYS' TS2 Commercial Card platform, which currently supports clients across a number of European countries with multiple languages and currencies. TS2 is capable of serving a client's portfolio across more than one continent --- a critical advantage for institutions planning rapid, international growth.|
"Partnering with a stable and dependable partner like TSYS gives our customers added reassurance of world-class service," said Alan Gibson, director of European Commercial Payments for Elavon. "This represents an extension of a longstanding relationship that dates back more than 20 years. With TSYS, we have confidence in our ability to follow our customers anywhere they are doing business, around the world."
"TSYS is one of the leading processors of commercial payments in Europe, now processing in 17 countries across the continent," said Bob Evans, managing director of Europe, TSYS International. "U.S. Bank's decision to work with TSYS in Europe is a testament to the strong relationship that exists in the U.S. and the experience TSYS has gained through our expansion in Europe."
U.S. Bank announced in March 2011 that it would begin issuing corporate cards to European-based employees of its North American multinational customers through Elavon Financial Services Limited, a wholly-owned subsidiary of U.S. Bank parent company U.S. Bancorp.
The main focus for U.S. Bank initially will be to have Elavon issue cards to customers in the UK, Ireland, France, Germany, Spain and Italy. The bank plans to offer settlement options in euros and British pound sterling, and will support its customer language requirements in English, French, German, Italian and Spanish. The cards will meet European technology standards, including full chip and PIN capability. U.S. Bank is one of TSYS' longest standing clients, with a relationship dating back to 1989.